NET Power (NYSE:NPWR) Major Shareholder 8 Rivers Capital, Llc Sells 130,000 Shares of Stock

NET Power Inc. (NYSE:NPWR) major shareholder 8 Rivers Capital, Llc sold 130,000 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $2.35, for a total value of $305,500.00. Following the sale, the insider directly owned 1,420,000 shares of the company’s stock, valued at approximately $3,337,000. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

8 Rivers Capital, Llc also recently made the following trade(s):

• On Wednesday, January 28th, 8 Rivers Capital, Llc sold 65,220 shares of NET Power stock. The stock was sold at an average price of $2.38, for a total value of $155,223.60.
• On Tuesday, January 27th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.38, for a total value of $238,000.00.
• On Friday, January 16th, 8 Rivers Capital, Llc sold 230,000 shares of NET Power stock. The stock was sold at an average price of $2.63, for a total transaction of $604,900.00.
• On Wednesday, January 14th, 8 Rivers Capital, Llc sold 135,000 shares of NET Power stock. The shares were sold at an average price of $2.74, for a total transaction of $369,900.00.
• On Wednesday, December 24th, 8 Rivers Capital, Llc sold 170,000 shares of NET Power stock. The stock was sold at an average price of $2.21, for a total transaction of $375,700.00.
• On Tuesday, December 23rd, 8 Rivers Capital, Llc sold 130,000 shares of NET Power stock. The shares were sold at an average price of $2.17, for a total value of $282,100.00.
• On Monday, December 22nd, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The shares were sold at an average price of $2.26, for a total value of $226,000.00.
• On Friday, December 19th, 8 Rivers Capital, Llc sold 100,000 shares of NET Power stock. The stock was sold at an average price of $2.34, for a total value of $234,000.00.
• On Tuesday, December 9th, 8 Rivers Capital, Llc sold 40,000 shares of NET Power stock. The shares were sold at an average price of $2.82, for a total value of $112,800.00.
• On Monday, December 8th, 8 Rivers Capital, Llc sold 140,000 shares of NET Power stock. The stock was sold at an average price of $2.81, for a total value of $393,400.00.

NET Power Price Performance

NYSE:NPWR traded down $0.04 during mid-day trading on Wednesday, reaching $2.34. The stock had a trading volume of 685,830 shares, compared to its average volume of 811,157. The stock has a market cap of $518.70 million, a P/E ratio of -0.31 and a beta of 0.81. The business’s 50 day moving average is $2.56 and its 200 day moving average is $2.84. NET Power Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $8.98.

NET Power (NYSE:NPWR) last posted its earnings results on Thursday, November 13th. The company reported $5.84 EPS for the quarter, topping the consensus estimate of ($0.16) by $6.00. Equities analysts expect that NET Power Inc. will post -0.4 EPS for the current year.

Hedge Funds Weigh In On NET Power

A number of hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new stake in NET Power in the 2nd quarter valued at $25,000. Invesco Ltd. acquired a new stake in shares of NET Power in the 2nd quarter valued at $25,000. Sei Investments Co. bought a new stake in shares of NET Power in the 2nd quarter worth about $32,000. Quantbot Technologies LP bought a new stake in shares of NET Power in the 3rd quarter worth about $39,000. Finally, JPMorgan Chase & Co. increased its position in shares of NET Power by 48.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,047 shares of the company’s stock worth $40,000 after purchasing an additional 5,255 shares in the last quarter. 53.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NPWR has been the topic of a number of research reports. Citigroup dropped their target price on shares of NET Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Barclays upgraded shares of NET Power from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $2.00 to $3.00 in a report on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NET Power in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NET Power currently has an average rating of “Hold” and a consensus target price of $3.50.

NET Power Company Profile

NET Power, Inc is an energy technology company focused on developing and commercializing power generation plants that burn natural gas and other fuels with near-zero carbon emissions. The company’s core innovation is the proprietary Allam-Fetvedt Cycle, a supercritical carbon dioxide power cycle that captures all carbon dioxide produced during combustion without the need for separate carbon capture systems. By integrating gas combustion, heat exchange and carbon dioxide separation into a single closed-loop process, NET Power aims to deliver baseload power with efficiencies and emissions profiles competitive with conventional and renewable generation sources.

Since demonstrating its first full-scale Allam-Cycle facility in La Porte, Texas, NET Power has moved from pilot operation toward commercial deployment.